Cloudflare price target raised to $149 from $111 at Cantor Fitzgerald

Cantor Fitzgerald analyst Thomas Blakey raised the firm’s price target on Cloudflare (NET) to $149 from $111 and keeps a Neutral rating on the shares. The firm says risk/reward scenarios remain unbalanced, but views its premium as warranted given the improved macro, demand, and sales productivity signals in Q4, as well as relatively unchanged guidance for 2025, the analyst tells investors in a research note. The 2025 guidance appears to be embedding conservatism given sales ramps, and Cloudflare increasing investments heading in to 2025, which all support upside bias to top-line estimates near-term, the firm says.